City of Chicago v. City Realty Exchange, Inc.

This appeal requires us to decide whether a real estate tax certificate of purchase is a lien for taxes. The question, deceptively simple to state, arises from a suit to foreclose a demolition lien filed by plaintiff, City of Chicago, against defendant City Realty Exchange, Inc., an Illinois corporation, and certain unknown owners. City Realty filed an answer and made a motion for summary judgment, which was denied. The facts are not in dispute.

On September 25, 1964, defendant, for the sum of $5,677.99, purchased the real estate commonly known as 4883-35 North Winthrop Avenue, Chicago, at a…